Korea Electric Power (NYSE:KEP) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Korea Electric Power (NYSE:KEP) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Korea Electric Power Corporation generates and supplies electric power to its customers, both industrial and residential. The Korean government owns the majority of the company. “

Separately, Macquarie cut shares of Korea Electric Power from a neutral rating to an underperform rating in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $18.00.

Shares of Korea Electric Power stock traded up $0.16 during mid-day trading on Wednesday, hitting $11.18. The stock had a trading volume of 7,650 shares, compared to its average volume of 128,964. The firm has a 50-day moving average of $10.73 and a two-hundred day moving average of $11.20. Korea Electric Power has a 12-month low of $9.90 and a 12-month high of $15.78. The company has a quick ratio of 0.56, a current ratio of 0.84 and a debt-to-equity ratio of 0.79. The firm has a market cap of $14.41 billion, a P/E ratio of -12.02 and a beta of 0.35.

Institutional investors have recently added to or reduced their stakes in the business. Ellington Management Group LLC acquired a new stake in shares of Korea Electric Power in the 2nd quarter valued at $122,000. Signaturefd LLC grew its position in Korea Electric Power by 118.4% during the 3rd quarter. Signaturefd LLC now owns 11,620 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 6,300 shares during the last quarter. Corient Capital Partners LLC purchased a new position in Korea Electric Power during the 2nd quarter worth $163,000. Buckingham Asset Management LLC grew its position in Korea Electric Power by 70.5% during the 2nd quarter. Buckingham Asset Management LLC now owns 22,333 shares of the utilities provider’s stock worth $248,000 after purchasing an additional 9,237 shares during the last quarter. Finally, Atria Investments LLC purchased a new position in Korea Electric Power during the 2nd quarter worth $251,000. Institutional investors own 3.97% of the company’s stock.

About Korea Electric Power

Korea Electric Power Corporation, an integrated electric utility company, generates, transmits, and distributes electricity in Korea and internationally. The company operates through Transmission and Distribution, Electric Power Generation (Nuclear), Electric Power Generation (Non-nuclear), Plant Maintenance & Engineering Service, and Others segments.

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